HedgeCo.Net — Ventures Platform said it had reached final close on VP Pan-African Fund II at $84 million, above a $75 million target. The firm’s announcement is the primary. TechCrunch and TechCabal independently printed the same $84 million final close. Disrupt Africa carried the same oversubscribed total and the same $75 million original target.
The Nigeria-headquartered seed firm closed Fund I at $46 million in 2022, TechCrunch and TechCabal both said. Fund II widens the geographic mandate beyond Nigeria, with early Fund II checks already into Kenya, South Africa, and Egypt, TechCrunch reported. Check sizes can run up to $3 million, with deployment aimed over three to four years.
New limited partners at final close include the European Bank for Reconstruction and Development, Norfund, Alphatron, and the Ashesi University Foundation, plus a consortium of family offices. They join first-close backers that include Nigeria’s iDICE programme, the IFC, Standard Bank, British International Investment, Proparco, MSMEDA, AfricaGrow, and Alder Tree Investment. TechCabal put the November 2025 first close at $64 million and said about 70% of Fund I LPs returned.
Founding and managing partner Kola Aina framed the book as capacity to lead and catalyse pre-seed to Series A deals with follow-on room. The allocator object is a closed, above-target second institutional Africa seed vehicle, not a Series A growth book. Anyone converting the raise into a USD growth-equity ticket has misread the stage line. It is a final close, not a first close.